Paycom Software is an
Oklahoma City-based provider of cloud-based software for human capital
management, such as payroll, talent acquisition, payroll, and human resources.
The company’s technology encompasses a suite of products within a single
application with payroll operating as its system of record.
Once a candidate’s
information is entered via online application, Paycom clients can run tax
credit checks and background checks as well as the “on-boarding process”
without re-entering the candidate’s information. Through employee self-service,
new hires can complete their W-4s and I-9s, which can be automatically checked
with E-Verify®. Employees can also use the self-service portal for a variety of
tasks, such as to clock in and out, submit online timesheets, check their
paid-time-off accruals, and make time off requests. The employees can also
access pay vouchers, submit expenses, enroll in benefits, and access
performance reviews.
The design of the technology
is to help businesses streamline their employment processes and eliminate
redundant data entry through a single database. Paycom’s client base includes
businesses engaged in manufacturing, franchise, medicine, restaurants,
education, non-profit, distribution, grocers, dealerships, and more.
Business owners benefit from
automatically populated payroll that includes benefit deductions, expense
reimbursement amounts, and any other approved changes made in the system, such
as changes to pay scale or position or status changes. Additionally, when a qualifying
event such as employee termination is entered into the system, the required
COBRA action is triggered automatically to keep the business in compliance.
To foster continued growth,
Paycom today launched its initial public offering (IPO) for inclusion to the
New York Stock Exchange. The company plans to raise $100 million through the
sale of 6.6 million shares priced between $18 and $20 a piece.
For more information, visit
www.paycom.com
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